Press Information Bureau

Government of India

Ministry of Corporate Affairs

13-December-2012 19:35 IST

Serious Fraud Investigation Office (SFIO) which is a multi-disciplinary investigating agency under the Ministry of Corporate Affairs, has set up the Market Research and Analysis Unit for capacity building, co-ordination with other investigating agencies and for market surveillance. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that it is proposed to provide statutory recognition and more powers to the SFIO in the proposed Companies Bill, 2011 which is pending before the Parliament.

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KKP

Statutory recognition for investigative agency proposed to strengthen SFIO's powers and market surveillance and coordination. A multi-disciplinary investigating agency has established a Market Research and Analysis Unit to support capacity building, inter-agency coordination, and market surveillance. The Minister indicated proposed companies legislation will provide statutory recognition and additional powers to formalise and strengthen the agency's investigative and market oversight functions.